Ormat Technologies, Inc. (NYSE: ORA) has announced that it priced a follow-on public offering of 3,500,000 shares of its common stock at $35.50 per share. The Company estimates that the net proceeds resulting from the offering will be approximately $117.2 million after deducting fees and commissions and estimated offering expenses associated with the offering. The closing of the offering is scheduled for April 10, 2006.
The Company expects to use the aggregate net proceeds from this offering for its general corporate purposes and those of its consolidated subsidiaries, which may include construction of geothermal and recovered energy generation power plants and other investments, and financing possible acquisitions.
Lehman Brothers Inc. and Goldman, Sachs & Co. are acting as joint book-running managers, Citigroup Global Markets Inc. is acting as joint lead manager and HSBC Securities (USA) Inc., RBC Capital Markets Corporation and Dundee Securities Inc. are acting as co-managers for the offering.
About Ormat Technologies
Ormat Technologies, Inc. is a vertically integrated company primarily engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal power plants.
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